Lam Research Co. (NASDAQ:LRCX) Shares Sold by Vest Financial LLC

Vest Financial LLC reduced its holdings in Lam Research Co. (NASDAQ:LRCX) by 68.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 143,333 shares of the semiconductor company’s stock after selling 316,524 shares during the quarter. Vest Financial LLC’s holdings in Lam Research were worth $10,420,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LRCX. Legacy Wealth Asset Management LLC boosted its stake in Lam Research by 1.9% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company’s stock valued at $963,000 after purchasing an additional 248 shares during the period. Paladin Wealth LLC raised its holdings in shares of Lam Research by 4.0% during the first quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company’s stock valued at $544,000 after buying an additional 289 shares during the last quarter. Fairway Wealth LLC boosted its position in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after buying an additional 306 shares during the period. Financial Perspectives Inc grew its holdings in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after buying an additional 309 shares in the last quarter. Finally, Bell Investment Advisors Inc increased its position in Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 343 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on LRCX. B. Riley reissued a “buy” rating on shares of Lam Research in a report on Thursday, April 24th. Argus upgraded shares of Lam Research to a “strong-buy” rating in a research report on Friday, April 25th. TD Securities decreased their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the stock a “hold” rating in a report on Thursday, April 24th. Finally, TD Cowen cut their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.56.

Lam Research Trading Up 1.7%

NASDAQ LRCX opened at $86.35 on Friday. The firm’s 50 day moving average price is $74.51 and its two-hundred day moving average price is $76.35. The stock has a market cap of $110.45 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 1.47 and a beta of 1.65. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the business earned $7.79 EPS. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. Equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, June 18th. Lam Research’s dividend payout ratio is currently 25.63%.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.